Govt extends validity period of industrial licence to 3 years
Seeking to improve ease of doing business in India, the government on Wednesday decided to extend the validity period of industrial licence to three years with a provision for further extension of two years.
However, the commerce and industry ministry’s press note said that the licence will lapse automatically after five years in absence of commencement of commercial production.
“In supersession of all earlier Press Notes, the period of validity of Industrial Licence is being extended from two years to three years as a measure for ease of doing business,” the note said.